MyComplianceOffice Blog

Singapore’s CPIB exposes a major corruption scheme funnelling millions through procurement fraud, resulting in a guilty plea and a reckoning for those involved.

The Hong Kong Securities and Futures Commission (SFC) has released new guidelines for market sounding (Guidelines), which will come into effect on 02 May 2025. Firms carrying out market soundings in Hong Kong need to be aware of the actions and regulatory takeaways contained within these guidelines.

A recent case in Hong Kong has sent a clear signal to financial firms about the dangers of failing to manage material non-public information (MNPI) effectively. The Market Misconduct Tribunal (MMT) ordered the wife of a chauffeur to disgorge $106,968 in illicit profit gained from the insider dealing activity.

The Australian Prudential Regulation Authority (APRA) and the Australian Securities and Investments Commission (ASIC), the Regulators, have issued a joint letter detailing their observations about how the banking industry has implemented measures to comply with the Financial Accountability Regime (FAR).

Regulators around the globe are taking a firm stance against off-channel communications. In the US, the SEC recently charged 26 firms related to extensive record keeping failures, resulting in around US$390 million in penalties. In the UK, the FCA has issued comparatively smaller fines—though the regulator is now calling on banks to report staff breaches of encrypted messaging policies. The move reveals the FCA’s intent to gain a much deeper understanding of how apps like WhatsApp, Signal, and Telegram are currently used within financial services.